Volcano Corp Loss Wider Than Estimates

(RTTNews) - Volcano Corp (VOLC) Thursday reported first-quarter net loss of $11 million or $0.21 per share compared with a loss of $3.2 million or $0.06 per share last year.

Excluding items, adjusted loss for the quarter was $0.12 per share compared with earnings of $0.02 per share a year ago.

Revenues for the quarter were $94.5 million compared with $93.2 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.11 per share on revenues of $94.68 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the second quarter, the company expects a net loss of $0.15 to $0.13 per share, adjusted loss of $0.06 to $0.04 per share and revenues of $102 million to $104 million. Analysts project a loss of $0.05 per share on revenues of $104.84 million.

For fiscal year 2014, the company still expects net loss of $0.60 to $0.57 per share, adjusted loss of $0.19 to $0.16 per share and revenues of $413 million to $421 million.

Analysts expect a loss of $0.19 per share on revenues of $415 million for the year.

San Diego, California-based Volacano makes precision guided therapy tools designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease.